Tourmaline Oil (TSE:TOU) Price Target Raised to C$76.00 at Desjardins

Tourmaline Oil (TSE:TOU) had its target price increased by stock analysts at Desjardins from C$74.00 to C$76.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Desjardins’ price target would suggest a potential upside of 25.83% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Raymond James set a C$78.00 price target on shares of Tourmaline Oil and gave the company an “outperform” rating in a research note on Tuesday, April 8th. Cormark raised shares of Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research report on Friday, March 7th. National Bankshares lifted their price objective on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Jefferies Financial Group upped their price target on shares of Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. Finally, CIBC decreased their target price on Tourmaline Oil from C$80.00 to C$72.50 in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$77.95.

Tourmaline Oil Price Performance

TSE:TOU traded down C$0.34 on Tuesday, reaching C$60.40. The stock had a trading volume of 796,779 shares, compared to its average volume of 2,375,971. Tourmaline Oil has a 1-year low of C$55.27 and a 1-year high of C$70.83. The stock has a fifty day moving average price of C$65.83 and a 200-day moving average price of C$65.17. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. The company has a market capitalization of C$22.51 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30.

Insider Activity

In other Tourmaline Oil news, Director Jill Terilee Angevine purchased 1,000 shares of the stock in a transaction on Friday, January 31st. The stock was acquired at an average cost of C$66.63 per share, with a total value of C$66,630.00. Also, Senior Officer Mike Rose purchased 2,500 shares of Tourmaline Oil stock in a transaction that occurred on Thursday, January 16th. The shares were bought at an average price of C$66.44 per share, for a total transaction of C$166,109.00. Over the last three months, insiders purchased 13,500 shares of company stock worth $883,369. 5.13% of the stock is owned by corporate insiders.

About Tourmaline Oil

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.